Cebu Pacific acquires Tigerair Philippines

Philippine low-cost carrier Cebu Pacific will acquire 100% ownership of no-frills carrier Tigerair Philippines as part of a strategic alliance between Cebu Pacific and Singapore-based Tigerair.
The deal includes the 40% of Tigerair Philippines owned by Tigerair as well as the 60% stake owned by local partners, and is reportedly worth $15 million.
Tigerair said Tigerair Philippines had been loss-making since the 40% stake was acquired in 2012 and expected to receive $7 million for the ...

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